The lender said that, in February, it had had its best-ever month for new applications, and marked its two-year anniversary with offers made and loan completions along with record revenue and profit.
Quantum Mortgages said that mortgage applications had risen beyond the £650m mark during that period, and its headcount now stood at 37.
It added that its distribution partnerships included all major mortgage clubs and packagers in the UK and most major mortgage networks bar one.
Jason Neale (pictured), managing director at Quantum Mortgages, said: “We certainly couldn’t have picked a more difficult time to launch a buy-to-let lender. Within weeks of our soft launch, inflation started to rise sharply, resulting in significant swap rate volatility and Bank of England base rate rising from 0.5 per cent to today’s 5.25 per cent. Then, of course, there was the disastrous Truss and Kwarteng mini Budget, which effectively shut the sector down for six months.
“During these turbulent times, we continued to stick by our principles of common sense, doing the right thing and helping where we can. We were one of the very few lenders not to withdraw fixed rates, we never once considered not honouring pipeline applications and always gave plenty of notice if rates needed to change, during a period where many of the larger lenders’ behaviour was really poor.”
He continued: “We believe our valued intermediary friends and partners appreciate how we conduct ourselves and recognise that while we’re not perfect, we always try to provide fair and common-sense solutions for them and their clients.
“As well as our amazing team, our success is down to the loyal and incredible support we have enjoyed from our brokers, packagers, clubs, and network partners, to whom we say a huge thank you.”
Quantum Mortgages was launched in 2022 with an initial focus on professional landlords.
It reported £350m of new lending in 2023 and has hired Wes Friedel as head of bridging to spearhead the firm’s entry into the space.
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